Good News for First Time Homebuyers
In a year where there has not been a lot of good news in the mortgage world, I am happy to share a positive change. One lender that I work with has improved pricing for certain first-time homebuyers.
To qualify for this program, at least one buyer must be a first-time homebuyer. Also, the total qualifying income can’t exceed 120% of the median income for our area. The area median income is $140,500. So, the total qualifying income cannot exceed $168,000. The pricing seems to improve by about an eighth of a percent. It is not a huge benefit, but every little bit helps, especially with my first-time homebuyers.
If you or a family member is thinking about buying, I am happy to look at numbers and options; please contact me. In the last two weeks, I have had four meetings with potential homebuyers who are children of my previous clients. I love it!